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Ministry of Corporate Affairs News

07 Feb 2024

BharatPe Faces Government Inquiry Amidst Legal Turmoil

The notice also queries findings from a status report submitted by the Delhi Police's Economic Offences Wing.

Companies act 2014

20 Aug 2022

Govt tightens company's address physical verification process; Check details

Ministry of Corporate affairs amends the rules to make physical verification process transparent. Photos of the company's office and two independent witness will be needed during the verification. necessary to verify the documents of building associated with the company during the time of registration.

25 Aug 2020

MCA maiden success in recovery of Rs 24 crore in Nirav Modi case from US

The MCA said that the PNB has received Rs 24.33 crore as the first tranche of recoveries from bankruptcy proceedings of three Nirav Modi-promoted companies in the US. Upon liquidation of the debtors’ assets by the US Chapter 11 Trustee, a sum of Rs 82.66 crore is available for distribution to unsecured creditors.

Ministry of Corporate Affairs

06 May 2020

Govt allows companies to hold AGMs through Video Conferencing or OAVM

Companies are required to hold their AGMs within six months from the end of a financial year.

04 Jul 2019

Government orders probe into alleged mismanagement of funds by Jet Airways

The Ministry of Corporate Affairs has ordered Serious Fraud Investigation Office (SFIO) to carry out the investigation, a government order seen by Reuters showed.

National Company Law Appellate Tribunal

15 Oct 2018

NCLAT stays proceedings against IL&FS, group companies

A two-member NCLAT bench headed by Justice S J Mukhopadhaya has asked the top five lenders of IL&FS to submit their replies over the government's plea for 90 days moratorium.

Ministry of Corporate Affairs

21 Aug 2018

MCA seeks clarifications from Jet auditors on deferring results announcement

The auditors are believed to have issues regarding the airline being a going concern.

21 Jun 2018

Centre studying other countries' systems for new insolvency framework

The Centre is inclined towards the UK system with some modifications, sources have said.

2.25 lakh companies

08 Jun 2018

Over 2.25 lk cos may be struck off in FY'19 for not filing financial statement

Also, over 3.09 lakh directors were disqualified for not filing financial statements or annual returns for preceding 3 years (2013-14, 2014-15 and 2015-16).

Ministry of Corporate Affairs

07 Jun 2018

Companies linked to ICICI Bank controversy come under MCA lens

The official also said the affairs of ICICI Bank are not being looked into by the ministry as that is completely under the purview of the Reserve Bank of India (RBI).

Shell companies

13 Mar 2018

Shell companies crackdown: MCA to nail several accounts, take stern action

The Serious Fraud Investigation Office has also started probe into a few cases related to these companies.

04 Dec 2017

HC junks FTIL's petition against govt order to merge with NSEL

The Bombay High Court on Monday dismissed a petition filed by the erstwhile Financial Technologies (India) Ltd (FTIL) challenging a 2016 decision of the Union government ordering its merger with its subsidiary, National Spot Exchange Ltd (NSEL).

Shell companies

03 Oct 2017

MCA disqualifies more than 2 lakh directors of shell companies within 15 days

After the recent crackdown, the total number of directors disqualified by MCA has reached three lakhs.

Shell companies

07 Sep 2017

Black money crackdown: Directors of deregistered companies to face up to 10-year jail for siphoning off funds

It was also decided that the directors of shell companies which have not filed returns for three or more years would be disqualified from holding such position in any other firm.

Ministry of Corporate Affairs

06 Sep 2017

Black money crackdown: Disqualified directors barred from submitting documents to MCA

Applications and documents filed by disqualified directors of companies to the Ministry of Corporate Affairs will be "summarily rejected", according to a communication.

Shell companies

13 Aug 2017

Bollywood, builders & brokers: More 'shell-shocks' in store

While several small brokers are already in the list of 'suspected shell firms', their links to bigger brokerage groups are being probed by

tax authorities

27 Jul 2017

IT dept to share vital data with MCA to nail down shell companies

The tax authorities will now relay audit reports of corporates and specific information from their I-T returns as also PAN data to the ministry of corporate affairs, as the government plans to crack down harder on shell companies.

30 Apr 2017

Ola lost Rs 6 crore a day during 2015-16

SoftBank-backed cab aggregator Ola posted a consolidated loss of over Rs 2,311 crore -- about Rs 6 crore a day -- during fiscal 2015-16, on account of heavy advertising and promotional expenses and high employee cost.

money laundering

29 Apr 2017

Money laundering: 8-9 lakh registered companies not filing returns, says Adhia

As many as 8-9 lakh registered companies are not filing annual returns with the Ministry of Corporate Affairs (MCA) and are a potential source of money laundering, Revenue Secretary Hasmukh Adhia said on Saturday.

Ministry of Corporate Affairs

13 Apr 2017

Govt plans making Aadhaar compulsory for filings under Companies Act

The government plans to make Aadhaar compulsory for regulatory filings made by key managerial personnel and directors under the Companies Act so as to weed out bogus entities.

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